According to the Standard and Poor’s/Case Shiller home price index, prices of US single-family homes fell in February by -0.1% on a seasonally-adjusted basis compared to the previous month, after increasing for eight straight months.

On an unadjusted basis, prices dropped -0.9% in February, worse than the estimated -0.3% decline and following a -0.4% downturn in January.

However, the home price indexes, for both 10-cities and 20-cities, showed the first annual upturn since December 2006, rising +1.4% and +0.6% respectively. The annual rise in the 20-city index, however, was half of the +1.2% increase forecast in a Reuters’ poll.